The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-08-19

Gen. Wshburn says the result Of this
policy, II adhered TO by al the roads,
would be that not . spoonful Of
wheat would come to Minneapolis,
and the millers might "a we'll shut up
shops. He added that the Minneapo-
liz and Pacific would at once reduce
Its rates "a cents on Minnesota and 8
cents on Dakota wheat, thus In effect
maintaining differential In favor OF
this city and insus urating a bitter
fight with competing lines. An In.
teresting feature Of the situation Is
found In the fact that the Manitoba
has several Southwestern extensions
under construction to Aberdeen, Wa.
tertown and other points reached by
the Milwaukee and st. Paul, Mime.
apolis and st. Louis and Northwest
ern roads, and thus these lines will be
drawn into the war. The Chicago
roads are forced to bsetir Themselves
at once or see all their wheat trf fIic di.
verted 10 Duluth.
Nh. GAzzAM GANo. one OF the O.,
II. 4 d. committee sent to New
York to investigate Ives, has returned
TO Cincinnati. To q Commercial Ga
zstte reporter he dished up the young
firancier In this fashion: "That young
man had q remarkable faculty for lug.
Cling figures. In finance he was Of
that imaginative school which In lit
erature is now led by Rider Hag-
gard. Why, he could take pen, ink
and paper and In Q short while figure
out the most marvellous results. His
pen seemed to convince him and
others, too, that there were millionsin
everything with which he could con.
meet himself. Why, he could take Q
pen aud figure out the earning cspac.
ity OF the o., II. 4 d. even under his
management, and In the trouble into
which he dragged II, making II appear
that the stock was worth 100,
and that the margin left for
him was . very handsome thing.
That was his Imagination. A prom.
inent New York attorney remarked
10 me In New York at the meeting at
which Ives stated that the road was
credited on the books OF his company
with every dollar, that Ives put him q
good deal In mind Of q burglar who
broke into residence, stole eli the law.
elry and valuables, and next day Motif ed
the owners that the proceeds OF the
property had been passed 10 the own
ers credit on his books"
"What Ia the situation Of the Van.
dalia road7 IL II worse than the Gin.
cinnati, Hamilton and Dayton 2" was
asked. lives simply Quilted the Vandalia
The young man cleaned out every.
thing In sight, and It's wonder that
he left the track aud rosdbed Intact.
When he bought the Vsndalia he
ordered all the surplus cash In the
treasury at Teue Haute, an immense
sum, sent on 10 him In New York,
where he pasted II to their credit.
Then he ordered sent 10 him come
100000 Of the bonds Of the road,
which he pawned down the street,
passing II 10 their credit though.
Then he even had the cheek
10 order the cash remittances
OF the current earnings OF the
road sent 10 him down In New York,
and this. too, he 'credlNd.'" How
much in the aggregate did be cost the
vandaliAy" Somewhere 10 the neigh.
borhood Of 5000, 900. What has II
TO show for the money! Oh. they
have the credit on Iyes's books"
ia. there any hops Of the stock OF the
Cincinnati, Hamilton and Dayton be-
ing soon restored 10 lie va usf" mot
10 any very great extent In the lmme-
diste future; bat the earning capacity
Of the road 10 20 great, its intrinsic
worth % valuable, that with coed
Management We hope 10 restore the
property within q reasonable time"